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Full Speed Ahead MARI-TECH 2019 Ottawa, Ontario

Innovate or Die Entrepreneurship: Creating World Class Capabilities

“A true entrepreneur always searches to innovate and disrupt the status quo to create opportunity.”

Overnight Success? It’s Been a Long Night, Baby!

1970’s - From Pumping Gas to Canadian Navy Officer

1980’s - Brukar Inc. - Microsoft Mouse Project Team Sold the company in 1990 and travelled the world

1993 - Infonav Corporation and Nautical Data International World’s first integrated electronic chart navigation system

Sold to C-Map Italy for chump change – didn’t see Google Maps play

1996 - Telepix Imaging Inc. Transitional film-to-digital photo e-commerce play

Sold to Gretag Imaging in 1999 for $100M. But should have waited.

Facebook, YouTube, Instagram came later with EV of $Billions

2003 - Marport Deep Sea Technologies Inc. Software defined sonar and sub-sea instrumentation. Several patents.

Lost control and screwed by private equity (BAD) Exited with IP (GOOD)

2012 - Kraken Robotics Inc. 80+ people. International ops. Listed on TSX-V. Market cap $100M+

Established April 15, 1960

Invention Versus Innovation

Invention is the creation of a product or a process for the first time.

Innovation is when major improvements are made to an existing product or process.

Invention Versus Innovation

“Innovation is the instrument of entrepreneurship…the act that enables a new capacity to create wealth.”

www.krakensonar.com 8

Creative Destruction - The Demise of a $100 Billion Industry

Bankrupt 2012

Bankrupt 2001

QuickTake – Apple 1994

Bankrupt 2005

World’s First Digital Camera System – Kodak 1977

Actionable Intelligence™

Corporate Overview

www.krakenrobotics.com 9 Actionable Intelligence™

World Leader in Underwater Sensors & Robotics - Founded in 2012. IPO in February 2015 (TSX-V: PNG) (OTCQB: KRKNF)

Award Winning Technology & Proven Products - Validated by military and commercial markets - Over $250M in active contract pursuits - Significant contracts confirms value proposition

Experienced Team - 80+ employees in Canada, USA and Germany. 12 PhDs.

- Significant ocean technology expertise, key relationships

A Significant Market Opportunity - Maritime robotics positioned where aerial drones were in mid-90s - Industry growing from US$2B in 2017 to over US$10B by 2025 - International partnerships and collaboration

www.krakenrobotics.com 10

Products & Customers


Product Portfolio

Products priced from US$50K to US$3M+ Strong and growing global customer base Expanding market applications

Leading Price/Performance Value Proposition


www.krakensonar.com 12 Actionable Intelligence™

"Every strike brings me closer to the next home run.” - Babe Ruth

Our Business Strategy Is Relentless Innovation


A Member of Canada’s Ocean Supercluster

OceanVision® - Kraken’s $25M OSC Project


Robotics Are Transforming Industries

www.krakensonar.com 15

Transportation

Medicine

Manufacturing


Maritime Robotics Market

Ocean drones now positioned where the $10B+ aerial drone industry was in the 2000’s. Ocean drones market growing to over $10B by 2025.

16 Actionable Intelligence™

1990 2015 2000 2010

www.krakenrobotics.com

$10B Maritime Robotics Market By 2025

Cable & Pipeline Survey

Subsea Infrastructure Monitoring

Inspection, Repair & Maintenance

COMMERCIAL Hydrography, Oil & Gas, Subsea IRM, Science and Emerging Sectors

Offshore Wind, Wave and Tidal Farms

Ocean Thermal Energy Conversion

Seafloor Mineral Extraction

MILITARY

Mine Counter Measures

Intel, Surveillance and Reconnaissance

Anti-Submarine Warfare

40% $4B

60% $6B

Hydrography & Seabed Mapping

Search, Locate & Recovery

Treasure Hunting & Salvage

17 Actionable Intelligence™ www.krakenrobotics.com

ACOUSTIC LASER OPTICAL

THUNDERFISH “A” THUNDERFISH 600

KATFISH A-LARS


Ultra High Image Resolution Constant along/across track resolution of 3cm x 3cm 15x better compared to Real Aperture Sonar

Increased Area Coverage Rate Up to 4 km2/h Up to 600m swath 10x better compared to Real Aperture Sonar

Operational Safety Ability to fly high off-bottom 10x UUV altitude (ie. 30m altitude = 300m range /600m swath)

Additional By-Products Real-time, co-registered high resolution 3D bathymetry Multi-aspect creates optical-like quality imagery Shadow enhancement improves target classification Enables Real Time ATR SAS micro-navigation output to INS increases accuracy

Image courtesy ECA Robotics

Synthetic Aperture Sonar Technology

Conventional Sonar vs Kraken’s Sonar – Towrope (50m range)

Conventional Sonar Kraken AquaPix® SAS


Conventional Technology Cannot Compete

Kraken AquaPix® SAS Pixel Resolution: 3cm @ 80m range

Conventional Side Scan Sonar Pixel Resolution: 20cm @ 80m range


Conventional Technology Cannot Compete

Kraken’s AquaPix® Sonar on US Navy Drone



A Very Busy 2018!

March 2018 Major European Defense Contractor Completion of MIL-STD Testing, Certification and Sea Acceptance

August 2018 US Navy Successful demonstration of SeaScout system for US Navy’s ANTX Exercise

December 2018 Elbit Systems (Israel) Successful Integration and Sea Tests of KATFISH on Elbit’s Seagull USV


Kraken acquired all AUV IP and technology assets from Marine Robotics Inc. (MRI) in 2015

Robotics engineers from DFKI Germany joined

Kraken in January 2017. Strong background in sensors, AI, machine learning, robotics. Led $30M Shell Brazil FlatFish project.

Kraken has exclusive license from Fraunhofer

Germany for their AUV IP now deployed as a technology demonstrator – ThunderFish Alpha


THUNDERFISH® Unmanned Underwater Drone


THUNDERFISH® - Avro Arrow Expedition


Avro Arrow Model Recovery


Kraken Innovation – Next Gen THUNDERFISH®


Existing Sensor & Robotics IP

Five Major Lessons I’ve Learned So Far


1. Be passionate in what you do. Life is all about one heartbeat in

and one heartbeat out. Don’t waste time – tick tock.

2. It’s not about the boat. It’s about the crew. Hire smart people.

3. Don’t be miserable - do more of what makes you happy. No one

is in charge of your happiness - except you. The most important

things in life are not things.

4. Stay focused. No is also an answer. Don’t chase too many rabbits

or you will go home hungry.

5. Everyone you meet is fighting a battle you know nothing about.

Be kind. Always.

Thank You For Your Attention!

Karl Kenny President & CEO

Kraken Robotic Systems Inc. 189 Glencoe Drive Mount Pearl, NL Canada A1N 4P6 709.757.5757 ext.222 [email protected]


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